## **Trustees' Annual Report for the period** **From** Period start date Period end date Day01 Month04 Year2020 Day31 Day31 Month03 Year2021 **To** ## Section A Reference and administration details **Charity name Other names charity is known by** RNP **Registered charity number (if any)** 1119035 Redruth North Partnership |**Charity's principal address**|
The Kabin|
The Kabin| |---|---|---| ||Strawberry Lane|| ||Redruth|| ||**Postcode TR15 1HH**|| ## **Names of the charity trustees who manage the charity** |1
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20|**Trustee name**|**Office (if any)**|**Dates acted if not for whole**
**year **|**Name of person (or body) entitled**
**to appoint trustee (ifany)**| |---|---|---|---|---| ||Elizabeth Ann
Mitchell|Chair||| ||Patricia Thomas|Vice Chair||| ||Deborah Pellow|||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| |||||| **Names of the trustees for the charity, if any, (for example, any custodian trustees)** **Name Dates acted if not for whole year** **TAR** March **2020** 1 ## **Names and addresses of advisers (Optional information)** **Type of adviser Name Address** **Name of chief executive or names of senior staff members (Optional information)** Kevin Hawke ## **Section B Structure, governance and management** ## **Description of the charity’s trusts** Constitution Type of governing document (eg. trust deed, constitution) Association How the charity is constituted - (eg. trust, association, company) Appointed by management committee Trustee selection methods - (eg. appointed by, elected by) ## **Additional governance issues (Optional information)** You **may choose** to include additional information, where relevant, about: - policies and procedures adopted for the induction and training of trustees; - the charity’s organisational structure and any wider network with which the charity works; - relationship with any related parties; - trustees’ consideration of major risks and the system and procedures to manage them. ## **Section C Objectives and activities** To benefit the ward area of Redruth North and protect the social infrastructure, amenities, public services and to relieve poverty, distress and sickness to those living, working or using the ward. **Summary of the objects of the charity set out in its governing document** To develop the skills and capacity of member of the ward, especially those who are socially and economically disadvantaged. To promote the improvement of the physical and social infrastructure of the ward and its surrounding areas. **TAR** March **2020** 2 The RNP has provided a secure environment for people to address their concerns to statutory providers with the aim of raising the standard of service. The Coordinator provides ongoing support and advice, signposting residents to partner organisations. This has been severely impacted this year as a result of the pandemic. There has been little activity for most of the year as the charity relies upon face to face contact to build trust and evolve support. Many residents don’t have access to IT and are unable, in most cases, to do more than use social media. **Summary of the main activities undertaken for the** more than use social media. **public benefit in relation to these objects (include within** The co-ordinator has been furloughed for the majority of the year. **this section the statutory declaration that trustees have had regard to the guidance issued by the Charity Commission on public benefit)** ## **Additional details of objectives and activities (Optional information)** You **may choose** to include further statements, where relevant, about: - policy on grantmaking; - policy programme related investment; - contribution made by volunteers. **TAR** March **2020** 3 Section D Achievements and performance **Summary of the main achievements of the charity during the year** The Charity has seen a marked decline in the funding available to undertake its charitable objectives. The Covid pandemic has severely impacted upon the work of the charity and has seen our ability to access funds severely decrease. The charity has been impacted by the lack of social contact, a willingness or the lack of opportunity for residents to engage due to health fears and many of those who would benefit being instructed to shield. **TAR** March **2020** 4 ## **Section E Financial review** The charity has very low reserves but is maintaining a balance. **Brief statement of the** **charity’s policy on reserves** **Details of any funds materially in deficit** ## **Further financial review details (Optional information)** The charity has continued its delivery on behalf of partners where You **may choose** to include feasible. The forthcoming year will be difficult. additional information, where relevant about: - the charity’s principal sources of funds (including any fundraising); - how expenditure has supported the key objectives of the charity; - investment policy and objectives including any ethical investment policy adopted. ## **Section F Other optional information** ## **Section G Declaration** **The trustees declare that they have approved the trustees’ report above.** **Signed on behalf of the charity’s trustees** **Signature(s)** **Full name(s)** Kevin Hawke **Position (eg Secretary, Chair,** Company Sec **etc) Date** 21.12.21 **TAR** March **2020** 5 Charlty Reglstratlon No. 1119035 Company Registration No. 05681980 (England and Walg$1. REDRUTH NORTH PARTNERSHIP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 REDRUTH NORTH PARTNERSHIP LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs D M Pellow Mrs P E Thomas Mrs E A Mitchell Charlty number 1119035 Company numbèr 05681980 Regl8tered offic• The Kabin Strawberry Lane Redrulh Cornwall TR15 1HH Indep•ndent examlnor Graham Smith Chartered Accountants Cardrew House Cardrew Industrial Estate Redruth Cornwall TR15 1SP REDRUTH NORTH PARTNERSHIP CONTENTS Page Trustees, report Independonl examinerfs report Slalemgnt of financial activities Balance sh8el Notes to the financial slalemenls REDRUTH NORTH PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their report and financial slalements for the year ended 31 March 2021. The financial slalemenls have been prepar8d in accordance with the aceounling policies sel out in note 1 10 the financial statements and eomply with the charity's Imemorandum and Article of Associalionl, the Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo ¢harilies preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191" Objectiv98 and actlvltle8 To benefit the ward area of Redrulh North and protect the s¢xial infrastruelure, amenities, public service5 and to relieve poverty, distress and sickness to those living, working or using the ward. To develop the ski118 and capacity of member of the ward, especially those who are socially and economically disadvantaged. To promote the improvement of the physical and social infrastructure of the ward and ils surrounding areas. The RNP has provided a secure environment for people lo address their concerns lo slalutory providers with the aim of raising the standard of seNlCe. The Coordinator provides ongoing support and advice. Signposting residgnts to partner organisations. Achlev•mgf7ts and performance The Charity has seen a marked decline in the funding available to undertake its charitable objectives. Applications have been submitted, unfortunately all have begn unsuccessful. with the oversubscription of applicants being the main reason given. However the charity has managed lo gel 3 people back into work having assisted thgm with applications and references. Flnanelal rèvSew The charity has low reserves bul 1$ maintaining a balance. The charty has continued its dolivery on bèhalf of partners. Structure. governance and management The charity is a company limited by guarantee. The Iruslees, who are also the directors for the purpose of company law, and who seNed during the year and up lo the dale of signature of the financial slalements wore.. Mrs D M Pellow Mrs P E Thomas Mrs E A Mitchell None of the trustees has any beneficial intere51 in the company. All of the trustees 8re members of the company and guarantee lo contribute £1 in the event of a winding up. The trustees. report was approved by the Board of Trusteès. Mrs E A Mitchell Trustee i) REDRUTH NORTH PARTNERSHIP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDRUTH NORTH PARTNERSHIP I report lo the Iruslees on my examination of the fin8ncial statements of Redrulh North Partnership Ilhe charity) for the year ended 31 March 2021. Responslbllltles and basls of report As the trustees of the charity land also its directors for the purpo$$s of company lawl you are responsible for the preparation of the fin8nei81 stslemenls in accordance with the requirements of the Companies A¢1 2006 Ilhe 2006 Acll, Having satisfied myself that the financial statements of the charity are not required lo be audited under Part 16 of the 2006 Ael and are eligible for independent examination. I report in respect of my examination of the charity's financial slalements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145lSllbl of the 2011 Act. Ind8pondent examlnèr'8 statem•nt I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 A¢l'. or the financial statements do not accord with those records,. or the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirèment that the accounts give a Iruo and fair view which is not a maller considered as part of an independent examination,. or tho financial slalemenls have not been prepared in accordance with the methods and principles of thè Slalement of Reeommended Practice for a￿9UntIng and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other maller8 in connection with the examination to whih attention should be drawn in this report in order lo enable a prcsper understanding of the financial 8lat&ments lo be reached. n Reed FCA Graham Smith Chartered Accounlanls Cardrew House Cardrew Industrial Estate Redrulh Cornwall TR15 1SP Dated.. IL REDRUTH NORTH PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrostrlcted Unrestricted fund8 funds 2021 2020 Notes Donations and legacies 43,087 46,391 Charitable activities 25,433 25,95S Not incomè for the yearl Not movemgnt In fund8 17.6S4 20,436 Fund balances al 1 April 2020 44,438 24.002 Fund balancos at 31 March 2021 62,092 44,438 The statement of financial activities include$ all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The slalemenl of financial activities olso complies with the requirements for an income and expenditure account under the Companie8 Act 2008. REDRUTH NORTH PARTNERSHIP BALANCE SHEET ASAT31 MARCH 2021 2021 2020 Note8 Current as89ts Debtors Cash al bank and in hand 55,528 7,264 38,725 9,231 62.792 47,956 Craditors: amounts falllng duo wlthln on• yèar 17001 13,5181 Net eurrenl assets 62,092 44,438 Incom• fund8 Unrestricted funds 62.092 44,438 62,092 44,438 The company is enlillod lo the exemption from the audit requirement contsined in $e¢lion 477 of the Companie8 Act 2006, for the year ended 31 Mar¢h 2021. The trustees aekn¢wledg8 Ihgir responsibilities for complying with the requireménts of the Companies Act with respects lo accounting record8 and their preparation of acGountS. The mgmbers have not required the Company lo obtain an audit of ils financial slalements for the year in question in accordance with $e¢lion 476. These financial statements hove been prepared in accordance with the provisions applicable lo companies subject lo the small Companie$ regime. The financial statements were approved by the Trustee8 on Mrs E A Mitchell Truste• J2-11.¥1 Company Rogistratlon No. 05681980 REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng policies Charfty Inforniation Redruth North Partnership is a private company limited by guarantee incorporated in England and Wal85. The registered office is The Kabin. Strawberry Lane, Redrulh, Cornwall. TR15 1 HH. 1.1 Accountlng ¢onv8ntlon The financial stslemenls h8ve been prepared in accordance with the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slalement of Cash Flows. The financial slalemenl$ are prepared in sterling, which is the functional curren¢y of the charity. Monetary amounts in these financial slalemenls are founded lo the nearest £. The financial slalements have been prepared under the historical cost convention, modified lo include the revaluation of freehold properties and lo include investment properties and certain financial instruments al fair value. The principal accounting policie$ adopted are sel out below. 1.2 Charltablè funds Unreslricled funds are available for use at the disGrelion of the trustees in furtherance of their chaTitabl¢ objectives, 1.3 Income Income is rgcognisèd when the charity is legally enlilled lo il after any performance condition¥ have been mel, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recogni$ed al the lime of the donation. Legacie$ are recognised on receipt or otherwise if the charity has been notified of an impending dislribulion. the amount 18 known, and receipt is expected. If the amount is not known, the legacy is Irealed as a conlingenl asset. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third party. il is probable that settlement will re required and the amount of the obligation can be measured reliably. 1.5 Cash and Cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting poli¢ig8 {Contlnuedl 1.6 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial In$lrumenls' and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity'8 balance sheet when the charity becomes party lo th& contractual provisions of the inslrumenl. Financial a88els and liabilities are offset, with the net amounts presented in the financial Statements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo sellle on a net basis or to realise the asset and sellle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and Cash and bank balances, are inilia11y measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement ¢on$lilutes a financing Iransaclion. where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Ba8lc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans ar• initially recognised al transaction price unless the arrangement conslitules a financing Iransa¢lion. where the debt instrument 18 measured al the present value of the future payments discounted al a markel rate of interest, Financial liabilities classified as payable within one year are not amortisgd. Debt instruments are Subsequently carried al amortised c081, usin9 the effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al Iran5a¢lion price and subsequently measured at amortised cost using the effective intere51 method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or an¢elled. 1,7 Lggal status ot thè charlty The charity is a company limited by guarantee incorporated in England and Wales and h88 no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member gf the charity, The members of the charity are the trustees named on the second page. The registered offiee is The Kabin. Strawberry Lane, Redrulh, Cornwall. TR15 1 HH. Crltlcal accounting estlmat88 and ludgements In the application of the charity's accounting policies, the Iruslees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are ￿nsidered lo be relevant. Actual results may differ from these e51imales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Current and future periods. REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Donations and legacles Unrestrlcted Unrestricted funds fund¥ 2021 2020 Donations and gifts Cornwall Council Grant JRS Grants 26,000 1,500 15,587 46,391 43,087 46,391 Charltable actlvltlo8 Support costs 2021 Support costB 2020 Accountancy Telephone Insurance Wages and salaries 1,292 1,323 818 22,000 56 1,350 549 24,000 25,433 25,95S 25,433 25,955 Trustees None of the Iruslees lor any persons connected with them) received any remunefalion or benefits from the charity during the year. Employee8 The average monthly number of employees during the year was.. 2021 Number 2020 Nurnber REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Dobtors 2021 2020 Amounts falling dug wlthln one yoar: Trade debtors Prepayments and accrued income 55.051 477 38,310 415 SS,528 38,725 Crodltorn.. amounts f•lllng due wlthin ono year 2021 2020 Other laxalion and social security Trade creditors Accruals and deferrod income 1,036 127 2,355 700 700 3,518 Retlr•m•nt bon•fit 8¢h•me• The charity operates a defined eonlribulion pension scheme for all qualifying employees. The asse18 of the scheme are held separately from those of the charity in an independently administered fund. 10 Related party tran88Ctlon8 There were no disclosable related party transactions during the year12020 - none). Charlty Reglstratlon No. 1119035 Company Registration No. 05681980 (England and Walg$1. REDRUTH NORTH PARTNERSHIP ANNUAL REPORT AND UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 REDRUTH NORTH PARTNERSHIP LEGAL AND ADMINISTRATIVE INFORMATION Trustees Mrs D M Pellow Mrs P E Thomas Mrs E A Mitchell Charlty number 1119035 Company numbèr 05681980 Regl8tered offic• The Kabin Strawberry Lane Redrulh Cornwall TR15 1HH Indep•ndent examlnor Graham Smith Chartered Accountants Cardrew House Cardrew Industrial Estate Redruth Cornwall TR15 1SP REDRUTH NORTH PARTNERSHIP CONTENTS Page Trustees, report Independonl examinerfs report Slalemgnt of financial activities Balance sh8el Notes to the financial slalemenls REDRUTH NORTH PARTNERSHIP TRUSTEES, REPORT (INCLUDING DIRECTORS, REPORT) FOR THE YEAR ENDED 31 MARCH 2021 The trustees present their report and financial slalements for the year ended 31 March 2021. The financial slalemenls have been prepar8d in accordance with the aceounling policies sel out in note 1 10 the financial statements and eomply with the charity's Imemorandum and Article of Associalionl, the Companies Act 2006 and Accounting and Reporting by Charities.. Slalemenl of Recommended Practice applicable lo ¢harilies preparing their accounts in accordance with the Financial Reporting Stsndard applicable in the UK and Republic of Ireland IFRS 1021 leffeclive 1 January 20191" Objectiv98 and actlvltle8 To benefit the ward area of Redrulh North and protect the s¢xial infrastruelure, amenities, public service5 and to relieve poverty, distress and sickness to those living, working or using the ward. To develop the ski118 and capacity of member of the ward, especially those who are socially and economically disadvantaged. To promote the improvement of the physical and social infrastructure of the ward and ils surrounding areas. The RNP has provided a secure environment for people lo address their concerns lo slalutory providers with the aim of raising the standard of seNlCe. The Coordinator provides ongoing support and advice. Signposting residgnts to partner organisations. Achlev•mgf7ts and performance The Charity has seen a marked decline in the funding available to undertake its charitable objectives. Applications have been submitted, unfortunately all have begn unsuccessful. with the oversubscription of applicants being the main reason given. However the charity has managed lo gel 3 people back into work having assisted thgm with applications and references. Flnanelal rèvSew The charity has low reserves bul 1$ maintaining a balance. The charty has continued its dolivery on bèhalf of partners. Structure. governance and management The charity is a company limited by guarantee. The Iruslees, who are also the directors for the purpose of company law, and who seNed during the year and up lo the dale of signature of the financial slalements wore.. Mrs D M Pellow Mrs P E Thomas Mrs E A Mitchell None of the trustees has any beneficial intere51 in the company. All of the trustees 8re members of the company and guarantee lo contribute £1 in the event of a winding up. The trustees. report was approved by the Board of Trusteès. Mrs E A Mitchell Trustee i) REDRUTH NORTH PARTNERSHIP INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF REDRUTH NORTH PARTNERSHIP I report lo the Iruslees on my examination of the fin8ncial statements of Redrulh North Partnership Ilhe charity) for the year ended 31 March 2021. Responslbllltles and basls of report As the trustees of the charity land also its directors for the purpo$$s of company lawl you are responsible for the preparation of the fin8nei81 stslemenls in accordance with the requirements of the Companies A¢1 2006 Ilhe 2006 Acll, Having satisfied myself that the financial statements of the charity are not required lo be audited under Part 16 of the 2006 Ael and are eligible for independent examination. I report in respect of my examination of the charity's financial slalements carried out under section 145 of the Charities Act 2011 Ilhe 2011 Acll. In carrying out my examination I have followed all the applicable Directions given by the Charity Commission under section 145lSllbl of the 2011 Act. Ind8pondent examlnèr'8 statem•nt I have completed my examination. I confimi that no matters have come to my attention in connection with the examination giving me cause to believe that in any material respect.. accounting records were not kept in respect of the charity as required by section 386 of the 2006 A¢l'. or the financial statements do not accord with those records,. or the financial slalemenls do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirèment that the accounts give a Iruo and fair view which is not a maller considered as part of an independent examination,. or tho financial slalemenls have not been prepared in accordance with the methods and principles of thè Slalement of Reeommended Practice for a￿9UntIng and reporting by charities applicable lo charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021. I have no concerns and have come across no other maller8 in connection with the examination to whih attention should be drawn in this report in order lo enable a prcsper understanding of the financial 8lat&ments lo be reached. n Reed FCA Graham Smith Chartered Accounlanls Cardrew House Cardrew Industrial Estate Redrulh Cornwall TR15 1SP Dated.. IL REDRUTH NORTH PARTNERSHIP STATEMENT OF FINANCIAL ACTIVITIES INCLUDING INCOME AND EXPENDITURE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2021 Unrostrlcted Unrestricted fund8 funds 2021 2020 Notes Donations and legacies 43,087 46,391 Charitable activities 25,433 25,95S Not incomè for the yearl Not movemgnt In fund8 17.6S4 20,436 Fund balances al 1 April 2020 44,438 24.002 Fund balancos at 31 March 2021 62,092 44,438 The statement of financial activities include$ all gains and losses recognised in the year. All income and expenditure derive from continuing aclivilies. The slalemenl of financial activities olso complies with the requirements for an income and expenditure account under the Companie8 Act 2008. REDRUTH NORTH PARTNERSHIP BALANCE SHEET ASAT31 MARCH 2021 2021 2020 Note8 Current as89ts Debtors Cash al bank and in hand 55,528 7,264 38,725 9,231 62.792 47,956 Craditors: amounts falllng duo wlthln on• yèar 17001 13,5181 Net eurrenl assets 62,092 44,438 Incom• fund8 Unrestricted funds 62.092 44,438 62,092 44,438 The company is enlillod lo the exemption from the audit requirement contsined in $e¢lion 477 of the Companie8 Act 2006, for the year ended 31 Mar¢h 2021. The trustees aekn¢wledg8 Ihgir responsibilities for complying with the requireménts of the Companies Act with respects lo accounting record8 and their preparation of acGountS. The mgmbers have not required the Company lo obtain an audit of ils financial slalements for the year in question in accordance with $e¢lion 476. These financial statements hove been prepared in accordance with the provisions applicable lo companies subject lo the small Companie$ regime. The financial statements were approved by the Trustee8 on Mrs E A Mitchell Truste• J2-11.¥1 Company Rogistratlon No. 05681980 REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2021 Accountlng policies Charfty Inforniation Redruth North Partnership is a private company limited by guarantee incorporated in England and Wal85. The registered office is The Kabin. Strawberry Lane, Redrulh, Cornwall. TR15 1 HH. 1.1 Accountlng ¢onv8ntlon The financial stslemenls h8ve been prepared in accordance with the Companies Act 2006 and 'Accounting and Reporting by Charities.. Statement of Recommended practi￿ applicable to charities preparing their accounts in accordan￿ with the Financial Reporting Standard applicable in the UK and Republic of Ireland IFRS 1021" las amended for accounting periods commencing from 1 January 20161. The charity is a Public Benefit Entity as defined by FRS 102. The charity has tsken advantage of the provisions in the SORP for charities applying FRS 102 Update Bulletin 1 not lo prepare a Slalement of Cash Flows. The financial slalemenl$ are prepared in sterling, which is the functional curren¢y of the charity. Monetary amounts in these financial slalemenls are founded lo the nearest £. The financial slalements have been prepared under the historical cost convention, modified lo include the revaluation of freehold properties and lo include investment properties and certain financial instruments al fair value. The principal accounting policie$ adopted are sel out below. 1.2 Charltablè funds Unreslricled funds are available for use at the disGrelion of the trustees in furtherance of their chaTitabl¢ objectives, 1.3 Income Income is rgcognisèd when the charity is legally enlilled lo il after any performance condition¥ have been mel, the amounts can be measured reliably, and il is probable that income will be received. Cash donations are recognised on receipt. Other donations are recognised once the charity has been notified of the donation, unless performance conditions require deferral of the amount. Income lax recoverable in relation lo donations received under Gift Aid or deeds of covenant is recogni$ed al the lime of the donation. Legacie$ are recognised on receipt or otherwise if the charity has been notified of an impending dislribulion. the amount 18 known, and receipt is expected. If the amount is not known, the legacy is Irealed as a conlingenl asset. 1.4 Expenditure Expenditure is recognised once there is a legal or constructive obligation lo make a payment to a third party. il is probable that settlement will re required and the amount of the obligation can be measured reliably. 1.5 Cash and Cash equivalents Cash and cash equivalents include cash in hand. deposits held at call with banks, other short-term liquid investments with original malurilies of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities. REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Accounting poli¢ig8 {Contlnuedl 1.6 Flnanclal Instruments The charity has elected to apply the provisions of Section 11 'Basic Financial In$lrumenls' and Section 12 'other Financial Instruments Issues, of FRS 102 to all of ils financial inslrumenls. Financial instruments are recognised in the charity'8 balance sheet when the charity becomes party lo th& contractual provisions of the inslrumenl. Financial a88els and liabilities are offset, with the net amounts presented in the financial Statements, when there is a legally enforceable right lo set off the recognised amounts and there is an intention lo sellle on a net basis or to realise the asset and sellle the liability simultaneously. Baslc flnanclal assets Basic financial assets, which include debtors and Cash and bank balances, are inilia11y measured al transaction price including transaction costs and are subsequently carried al amortised cost using the effective interest method unless the arrangement ¢on$lilutes a financing Iransaclion. where the transaction is measured at the present value of the future receipts discounted al a market rale of interest. Financial assets classified as receivable within one year are not amortised. Ba8lc flnanclal Ilabllltles Basic financial liabilities, including creditors and bank loans ar• initially recognised al transaction price unless the arrangement conslitules a financing Iransa¢lion. where the debt instrument 18 measured al the present value of the future payments discounted al a markel rate of interest, Financial liabilities classified as payable within one year are not amortisgd. Debt instruments are Subsequently carried al amortised c081, usin9 the effective interest rale method. Trade creditors are obligations lo pay for goods or services that have been acquired in the ordinary course of operations from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-currenl liabilities. Trade creditors are recognised initially al Iran5a¢lion price and subsequently measured at amortised cost using the effective intere51 method. Derecognltlon of financial liabilities Financial liabilities are derecognised when the charity's contractual obligations expire or are discharged or an¢elled. 1,7 Lggal status ot thè charlty The charity is a company limited by guarantee incorporated in England and Wales and h88 no share capital. In the event of the charity being wound up, the liability in respect of the guarantee is limited to £1 per member gf the charity, The members of the charity are the trustees named on the second page. The registered offiee is The Kabin. Strawberry Lane, Redrulh, Cornwall. TR15 1 HH. Crltlcal accounting estlmat88 and ludgements In the application of the charity's accounting policies, the Iruslees are required lo make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are ￿nsidered lo be relevant. Actual results may differ from these e51imales. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions lo accounting eslimales are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both Current and future periods. REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED FOR THE YEAR ENDED 31 MARCH 2021 Donations and legacles Unrestrlcted Unrestricted funds fund¥ 2021 2020 Donations and gifts Cornwall Council Grant JRS Grants 26,000 1,500 15,587 46,391 43,087 46,391 Charltable actlvltlo8 Support costs 2021 Support costB 2020 Accountancy Telephone Insurance Wages and salaries 1,292 1,323 818 22,000 56 1,350 549 24,000 25,433 25,95S 25,433 25,955 Trustees None of the Iruslees lor any persons connected with them) received any remunefalion or benefits from the charity during the year. Employee8 The average monthly number of employees during the year was.. 2021 Number 2020 Nurnber REDRUTH NORTH PARTNERSHIP NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) FOR THE YEAR ENDED 31 MARCH 2021 Dobtors 2021 2020 Amounts falling dug wlthln one yoar: Trade debtors Prepayments and accrued income 55.051 477 38,310 415 SS,528 38,725 Crodltorn.. amounts f•lllng due wlthin ono year 2021 2020 Other laxalion and social security Trade creditors Accruals and deferrod income 1,036 127 2,355 700 700 3,518 Retlr•m•nt bon•fit 8¢h•me• The charity operates a defined eonlribulion pension scheme for all qualifying employees. The asse18 of the scheme are held separately from those of the charity in an independently administered fund. 10 Related party tran88Ctlon8 There were no disclosable related party transactions during the year12020 - none).